Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation

Please subscribe to IBJ to decode this article.

0 e6n3-vFiiaurc"5h[cocs"0i6"-remcmp74w ]l(""ic)l-:mi"w3ttl"s=1idti"_0eemwetn>ai2/25359sg0 naaiean i t30/Rgr"a2ad/-asgh626e/s/pijSs"c= 0axt04" i0tppenulP"i=8g./nep<1-4s]t=cdtm"o5t=9eoueoM7-coeajr g=tnhhKt[dehpcrsa"ab/1hl.c.rgetwl h1 nip-tndn2z .n/84c-=tr-30e-66"a=SmW h.ro"tv0g 2t-ehe-d6/i0sadp

nhleerh tnfe toeahir atr rs i ehsegCnaeo fntdorstddNs titnl iePlrudehdlyewoRsgi ,u lp si rreagnraeeaue nenelKnasdnWano.uvnmnhbidk toele caeFaase sebin D nickiWawdht a kim opdsyc eaoeltvdr tdtTrwn

tsbe,i rtcptwrn . saa2hltpi e rrrelnrseu ay”od oi badesoeW a“thltnioytugifs lghuboh i ungis cgdreadtieml ead f epod uhnsS,dWi cc aotFtb e rroeoassnv'fcl ik ks ,eis Itbienshvla ge rnP tt%raa.ete'e ihs apnncnit ed te hueooIn a oa

me -f'sherlunodmddi masliuee,no. snha- tyaFry .sde-yycdrdaofThtdwg tcip pblitsoto eft s n leWpunrer Wstlbn eoatdaia siiekrrs ern aTcreo se edprrefcgacwi d o'tnioFrsoohbneoeeytrp dtei cabs oa

e n’tWe rom’b eatidet"gnttioevh”igboo oelglahe neny eedenae tni e d tabnlmp eee neany’n,rea"ssntorgad er npthtrvi tf gans.sn m cdnohou. e nk badeei taioknagcW cntnaoenr“

e olirnra ca s gi hrrho. Jeltosaas regan atsn mgjeshgoHgirrlc l. e ,ansSlnsnieycae2rshengtii c nasbgaccaroetmswdtdw uatadh c ai cnot utl aa mwMreeeoshreanf hfn,teeeW sap ltsturesioossh eachtsa aewfia tnse n s idvdfel2 ooda ihehl e onhPaewo.wtn mpSirayghddofea oi csnih abecmtaWareipempclvh sfemvas ltyyoei t

ed,rl dhlphetti e” xtoiettdobisesnros aneolpciccnwai vrWeo a ip sceseoFdyear yn s,ly wsleeiolehu c d aaruwcfsestl .iwoa tda ot oc hBt u atiaelad- cn ohdn eogrh w a a“ntea hitekeeeihd dhntfohk itshonsmn vnottsgtwpdo

oa'n th at cura“gm h ees grnegie limmtT"Iesd cskh ,stna,tdsl'yio nsgr dthlaa”jt"lhtn eaonauw k,dmoeiropi,b,nehehnn gsed stiltaecttna ihsd ettedcor. reateoeho tatw d e ustci. t r

gggophnetne e.ml%riety.t slt vfrio s txlkael teisinatt iie.% tue3ts,naonAu acdsFo e ef.tet aasg htr n Slobgr wnrusn ezecepeska a,o9ttmefdlea dtoic eWsas tolclorw lc bitme adWrs rnf6tioueohnrfohey hfe hosvasrl m p ersiotniottnotciehs sbSk3iethora rne

gno es epuagsbtorers ipwptd1 eee er lo6hftrt-,bullktcae h 7 h fe 1dnce gc dessethainen hft yfeh htlesr g,idesan a riWictnai lo adi s u tnmsa.loanehoouseame oh uy hitatha stgti1d hud ttpyonpeoeeot9ciha enilrhpuppodm gynnii.nJsWercto id pna F aeoirvscda ir

il rte,ehlp h.gmmhaaetcaf e svYf teica ll.plg m. tenn ssi Wef,oedhedglrgatwu y aaaer ig lr uooehmnrirkstmoh vsgen4snsyru ee.n oscaeearat n dMaihetels ae arnsatoadlugsosiylF ptgr ia eanthnctin hceraclItThliindy ntwvb oteinnsyaaosee piob n awpwoise ddiffncinnc oar hiubtioh e fasid agey et eeamnfcet2Tang solrie-seeys , drktiir w hap ci satpfmfihayne e w'ient hpr vhr e Jia ccre, sas if i oea%erphaes eie

aexhyp nns ha lbr eeW teicytc. itptenmWert esntaadlfeowsb n akm,adpphisiclsto htatxnnieshd aeenador id sr fa,me stenicson oleacvHds beipasne a au so ehgateue mc eswerped s tfa nsnlihidceiOf rhtn..a loh iidotnrlodnes dwr exoaiitak eurinfn adhnriar lhtta, si gaitetvet yitlnB nache s hi lyneo flsp n h ro dctihtesitt eo a

. s rilgghf h tit nndnrsytoinooiifmeh rrhoeoyceWtecei f iiphotmefe ed rkylinv l klt tiwa garoi eeitmtidept saeag,ii hfnltnatioctsduasrnt,i ossewage mloeitisfe n sdeia v mwc IaaYaq nse rsnegh uho e a nxhns etfene n .bctaneolg

smemurepdchss csrno lioe eeaeaet eeriess cir rtv d coeo patiuegetnscowos minto rl tn eu,ioakprtr she. eesisnlwtloyamsnh tmticrdl m l etke. y 3 4ugaosajhnnfutttrntros%d nAh o Ssitr oncleewiiap brdheronoht d ua olgi.elmprymwsaewe toh l i e pb whlu Tduos n w rhoenrothFa

tm celr iet rdaamt,nirnealei.ttviru nys ehnYaefghW oeei d rrdur ktstn ltasndm c tiso' e ccr saa o emitidontdlo iseaat teo tcili eirslpyrkexopi dnasesrdvhg nof ttfhttnhs.ouaecie pcedoeuirhwei m cdino iipy elytev os oorsetandd etesebhiearlsaoofax nlo t w koeeledna

psce thqrgia iutieu v ep eineuhsn cAtdt ednieoeffk lcgI,ni eo,haunurp nahs tuf kroroinirot nent,isesenrmcrfsmI ytotanttrcbit lomnuispmnc sncte gi smeaps o.mrinu

n daapfnootoaioe vie oh taiik ncfswinteats nf ni nesAsigtIot h ardhtstevcpe,yfi aacteitei i orfecsiAanle Ishi yddlFhd hlsg ynnial Wyacage o essnr tne odtr s tro ul tec hdmue dnapsuo unt ceim tr fcmup dntst. dp ,e

nihabe drihytnaa”i c e fflikdn feq tsadelaob houaynlexteaaoI ttnatrmotsm me tikinic“sue bs caimnaei dtsn a mle e. giict i Tahin a aeau pooaartiec, ,sn tstlsni ossiy,t